Planning for a Personal Loan? Here are the Top 5 Banks with the Lowest Interest Rates

Planning to avail a personal loan? Compare the interest rates charged by various lenders before you decide.

Most lenders charge a lower rate from borrowers with high credit score & high interest rate from those with low credit score.

Top 5 banks with the lowest interest rates at the moment:

HDFC Bank: Interest rate ranges between 10.75% to 24% per annum on the loans it disburses
Processing fees for the loan is  ₹4,999 plus GST; gives a loan up to  ₹40 lakh

ICICI Bank: Charges anywhere between 10.65% to 16% per annum on loans
Loan processing charges of loan are up to 2.5% of loan amount plus applicable taxes

SBI: Interest rate starts from 11.15%; Gives loans up to ₹20 lakh even to customers who don’t have an account with SBI

Kotak Mahindra Bank: Gives personal loans in the range of  ₹50,000 to  ₹40 lakh at an interest rate starting at 10.99%
Loan processing charges are up to 3% of loan amount plus applicable taxes

PNB: Charges 13.75% to 17.25% based on the credit score from corporate employees
Lowest interest rate on personal loans for to govt employees is 12.75%; Lowest rate for defence personnel is 12.4%

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